SQ heavy volume soared！Institution: It can be doubled!

Tiger_comments
2022-02-10

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$Block(SQ)$, formerly known as Square, was created by Twitter$Twitter(TWTR)$Founded by co-founder Jack Dorsey, it was originally a payment company selling POS machine services, and its revenue mainly came from offline merchants.

In recent years, the company has turned to online payment, blockchain, bitcoin and other technologies, and launched a powerful Cash App, which, in addition to traditional payment functions, also includes bitcoin transactions, stock transactions, and bonded services.

The active number of Cash App has grown rapidly, more than doubling in 2021, and currently has more than 70 million people.

In December last year, Dorsey resigned as CEO of Twitter and announced that Square would be renamed Block Inc, which means:

Square will ALL In blockchain and other new technologies, while Dorsey will put all his energy into Block.

Institutions on Wall Street believe that the continued development of Cash App, the core product of Block, will further disrupt the market position of traditional brokers and banks, and even subvert them. So,Block is seen by investors as a true growth technology company.

Block itself also holds a large amount of Bitcoin assets, so its stock price will also be affected by the Bitcoin market.

In recent months, Block's share price has fallen by more than 60% from its highs due to the weakening of Bitcoin and the increase in interest rates:

But recently, Block has shown obvious support around US $100. Institutions have also given "buy" ratings. The target price is generally above US $200, and the increase space reaches 100%:

  • BTIG: Buy rating, target price of $230;
  • Mizuho: Buy rating, target price of $210;
  • Keybanc: Overweight rating, target price of $225;
  • Jefferies: Buy rating, target price of $200.

......

Finally, let's talk:

  • Do you think you can buy now Block (SQ)?

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • JZ8
    ·2022-02-10
    can start to nimble on $Block(SQ)$ . Recent rally can bring the share up another 5-10% before the 16 March FOMC at least
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  • SR050321
    ·2022-02-10
    Among so many stock must pick which one got the chance to go up and favourite, otherwise you will be in position pump and dump.
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  • Kaixiang
    ·2022-02-11
    Growth stocks under pressure due to rate hikes concern. Payment industry is also highly competitive, not forgetting latest competition from Apple. Suggest wait and see
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  • Yellow Tiger
    ·2022-02-11
    The last time i heard about this stock it was aqquiring afterpay, n everyone was rushing in to get AFTPY for a premium price and they bleed !
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  • GTig
    ·2022-02-12
    [Like]
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  • 百汇
    ·2022-02-12
    还不熟悉，等等吧……[暗中观察]
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  • RieslingHawk
    ·2022-02-12
    Shorting this will yield a good outcome.
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  • xuero
    ·2022-02-14
    the stock has good potential. Institutions ratings have much impact on price movements. Probably can buy and hold for long term. short term volatility will still be present.
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  • bernardtayet
    ·2022-02-10
    Block has good business model but risky with bitcoins in the payment apps. Prices can move up or can drop drastically. I will buy Block for strong cash flow and when the price is less than $100.
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  • MHh
    ·2022-02-10
    Definitely has potential to grow. Is truly disruptive innovation! But will watch till at least the announcement of the first rate hike before considering a buy.
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    • MHhReplying todoubleZ: 
      Never know… with market fears and the volatile situation.[Evil]
      2022-02-11
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    • doubleZ: 
      Further discount? I doubt so. Their support line is around $100 already.
      2022-02-11
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    • doubleZReplying toMHh: 
      Thank you for the reminder. Will consider. Looks like its at a discount.
      2022-02-10
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  • ___ _
    ·2022-02-10
    Anything below $100 seems a good buy.  But personally I'll wait for the financial report announcement on 24th Feb to study their results before making any decision.
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  • Wayneqq
    ·2022-02-10
    It definitely has first mover advantage in the field of cryptocurrency transactions.. but will need to see how it plans to expand and develop this business.. not a very compelling buy at the moment
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  • pekss
    ·2022-02-11
    $Block(SQ)$ fortune correlates with that of Bitcoin, so unless one is ready for the kind of volatility of Bitcoin, it is better to stay away from $Block(SQ)$ and study other FinTech counters.
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  • hd87
    ·2022-02-10
    I currently have about 5% ARRK under my portfolio that also holds Block (SQ) position. I might consider buying Block SQ once the economic is more visible in future.
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  • DiAngel
    ·2022-02-10
    Everyone is waiting at the sideline to have bargain hunting. Bill Gates quote : “Patience is a key element of success”. 🤣🙏
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    • DiAngel: 
      Thanks for the invite @MHh
      2022-02-10
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    • MHhReplying toDiAngel: 
      [Smile]
      2022-02-10
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  • hmanxx
    ·2022-02-14
    Block will shield better under high interest rate environment?.
    all tech growth stocks will suffer from rate hike environment ?
    who make more profits and with better profits margin will win.
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  • StayHome
    ·2022-02-13
    $Block(SQ)$ got potential only if it is able to keep increasing its Cash App users beyond 100 million ppl …. as $Apple(AAPL)$ is also trying to get a market share ….
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  • JL28168
    ·2022-02-13
    high risk high return...for fundamental n long term investment, bitcoin or bit related stock never is good choice or option...for risk taker n very short term trader, will go for it...
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  • Et1502
    ·2022-02-12
    $BLOCK(SQ)$ FinTech & e-Payment Technologies will be the future of 21st century business transaction system, ie Individual2Business2Business2Individual. BLOCK is in the middle of the “sweet-spot”.
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  • pekss
    ·2022-02-11
    SQ has thrived during COVID-19 shutdowns. Its challenge would be to remain relevant with the economy re-opening and with competitions from the incumbents the likes of Visa and Mastercard.
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